Bitcoin Drops Below $79,000 Amid Market Sell-off

Bitcoin experienced a significant price drop, falling below the $79,000 mark. This decline occurred amidst a broader market downturn affecting stocks and gold, while crude oil prices surged past $100. The sell-off appears to be driven by increasing concerns over rising bond yields and inflation. Traders are now adjusting their expectations regarding potential interest rate hikes by the Federal Reserve, contributing to the overall market volatility and negative sentiment across various asset classes.